Not really a remake, nor even an alternative take, but more like 'based in the same universe'. Far smaller than the 1995 movie, and a lot less ambitious (and a lot better, which was not a feat at all). Much lower budget, and visibly so, as well as poorer visual design. Could do with a better director/producer combo. But, the story is actually pretty decent, and the suspense well-executed. The movie could do with a better cast. The guy with the eyes does give a decent performance though, even though he has too much of a Frodo character in LOTR (i.e. not fresh). Also, the psychic lady is at least as pretty as she could act. The villain, on the other hand, is not so convincing.
I should be grateful that I didn't get to see lead actor's untalented face, though I was exposed to the embarassing mimicry of the Sylvester angry mouth.